The Nordic Development Fund (NDF) is a multilateral development finance institution established by Denmark, Finland, Iceland, Norway, and Sweden. It focuses on climate change investments in low-income countries, offering grants, loans, and equity in cooperation with other development institutions[1][2]. NDF targets low-income and lower-middle-income countries, particularly in Africa and Asia[2]. Its unique selling proposition is its specialized focus on the nexus between climate change and development, with a strategic emphasis on adaptation financing and gender equality[4]. NDF's operations align with the Nordic countries' priorities in climate change and poverty reduction[3][5].